Circular of the Registration and Stamps Department, Government of Karnataka dated 28th June, 1966 on section 4 of the Karnataka Stamp Act, 1957 [C10-M7X]

F. No. 22/49/1966-DEPA

Government of Karnataka

Registration and Stamps Department

dated the 28th June, 1966

To

All Collectors and all Chief Controlling Revenue Authorities

Subject: Section 4 of the Karnataka Stamp Act, 1957 (Karnataka Act 34 of 1957), the transfer of securities, regarding.

1. References have been received in the Registration and Stamps Department, Government of Karnataka seeking clarification on the manner in which section 4 of the Karnataka Stamp Act, 1957 (Karnataka Act 34 of 1957) (hereinafter referred to as the Act) is to be applied to stock exchanges who undertake the transfer of securities at more than one place.

2. The matter has been examined. Section 4 of the Act requires every stock exchange to make an application for registration to the Collector within the period stated in that section.

3. It is, accordingly, clarified that a separate application shall be made in respect of each place at which the transfer of securities is undertaken, and the Collector shall process each application in accordance with section 4 of the Act and the rules made thereunder.

4. Difficulties, if any, in the implementation of this circular may be brought to the notice of the Registration and Stamps Department, Government of Karnataka.

(Under Secretary to the Government of Karnataka)